For the Assessment Year 2022-23, Mr A received an email regarding proposed Adjustments under section 143(1)(a) from cpc-income tax india regarding the deduction claimed under section 80GG for which aform 10BA was not filed.
Assesse discovered there are other errors in the filed return that needs correction. He also discovered that 80GG was selected in error.
In response to 143(1)(a), he agrees to proposed Adjustments. He also wants to file the revised return to correct the other errors in the return.
Q.1 can he do so? Can he revise the return after agreeing to proposed Adjustments u/s 143(1)(a)?
Q.2 The option to file the revised return is not showing in his e-portal? What can he do in such a case?

Dear sir,
one of our client is having agriculture land which is 10 km away from municipal limit. now the assessee has converted the land into plots. i.e he has converted the capital assets into stock in trade. His first registry is done on 11/12/2021. The profit upto the date of conversion will be taxed as capital gain and thereafter as profit and gains from business. Now my query is what should be the conversion rate should it be DLC rate as on 31/03/2021 of Agriculture land in bigas or DLC rate as per Plots to decide the exempt capital gain.

Mr X received gift ( Resi.Plot ) from his daughters husband.

Daughters husband had purchases such plot of Rs 5 lakh &at the time of gift govt value of such plot is 15 lakh.
I have question that what will be the tax in the hand of Mr X after receiving the gift from daughters husband ?

& what will be the tax in the hand of daughters husband after giving the gift to his father in law ?

Dear Friends,
A and B are husband wife. A is working in a Pvt co while B is a housewife.
They purchased a society flat in Noida in Joint name and A took a home loan of 15 lacs from ICICI bank both are joint applicant. They have taken possession of the flat in 2017 and since then it has been let out. The rent is transferred by the tenant in their joint account.

A files his ITR showing salary income plus rent received from Noida Flat and B also files her ITR for her interest income but not taxable.
The home loan will finish in Aug 2025. But A wants to close the loan in 2023-24. As the interest on home loan is now not much.

A sought an advice for the following query:

Suppose in 2023 A close this home loan.
Post prepayment of home loan can A show the house rent income in her wife B's ITR or 50-50% in the ITR or both A and B to minimize the tax burden.( As a result of this the rent income and deduction for home loan interest will nullified to some extent). or even now prior to closure of home loan.

Thanks & regards
PC Joshi

Pvt ltd company in india entered into A service agreement for use of brand name -Ie Marriot , to -us based Foriegn company . While transfer the amount from india to us company , Invoice given by us company with out tax.

Us based Foriegn company having pan no in india, But there is No business in india.

While Remit the Amount what is the tax applicability by the indian company .ie pay Gst, Tds, Tcs , and Rate of tax.



please send response as soon as possible.

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